This American 表明する Platinum card has an APR of 704.6% - here's why

• e-mail

If you have recently spotted an advert for an American 表明する card with a 704.6 per cent APR, your 注目する，もくろむs do not deceive you.

This Platinum Card has the highest 代表者／国会議員 APR of any card on 記録，記録的な／記録する - but the eyewatering 率 is not all that it first seems.?

財政上の comparison 場所／位置 Moneyfacts 確認するd to This is Money this card's 704.6 per cent 利益／興味 率 is the highest?APR on its system since its 記録，記録的な／記録するs began in 2006.

The American 表明する Platinum card is a specialist card which comes with a hefty £650 年次の 料金 in 交流 for 利益s 含むing 世界的な travel and dining.

Platinum prices: The American 表明する card's 利益／興味 率 seems 法外な, but with good 推論する／理由

The APR 人物／姿／数字 may appear 脅すing, but there is a 推論する／理由 it is so high - and 顧客s will not 現実に 支払う／賃金 anything 近づく 700 per cent 利益／興味 on the card.

The 推論する／理由 is that the Amex Platinum card's £650 年次の 料金 is accounted for in the 704.6 per cent APR 人物／姿／数字, as part of ru les of advertising it.

The actual 購入（する） 利益／興味 率 of the card is 31 per cent, which is more in line with other card providers' 利益／興味 率s.

For comparison, Santander's All-in-One credit card, for example, has an 利益／興味 率 of 23.9 per cent, while Barclay's Platinum All-Rounder ビザ has an 利益／興味 率 of 24.9 per cent.

This 31 per cent 人物／姿／数字 is the 利益／興味 率 when you use your Platinum card to make 購入（する）s, not 704.6 per cent, and it only 適用するs if you don't 支払う／賃金 off the balance each month.?

James Hyde, of Moneyfacts, said: 'There's a £650 料金 on the Amex Platinum card, which is many times higher than typical 料金s (if there are any) and thus factors ひどく into the APR.'

Andrew Hagger, 創立者 of Website Moneycomms, said: 'The actual 購入（する） 利益／興味 率 is 31 per cent APR, bu t it's the £650 年次の 料金 that is the main 推論する／理由 for the high APR 人物／姿／数字.'

Amex 広告: This is 現在の advert, spotted at Liverpool Street 地下組織の 駅／配置する with the 704.6% APR 調印する in the corner

How is the APR calculated?

APR stands for 年次の 百分率 率. It is the total 率 you'll be 告発（する），告訴（する）／料金d for borrowing money over a year on a credit card.

APRs are calculated by 追加するing the 利益／興味 率 to the card 料金. APRs do not 含む 料金s and 告発（する），告訴（する）／料金s for 行方不明になるd 返済s or cash 撤退s

James Hyde said: 'Credit card APR is the total 百分率 cost of borrowing each year, 構成するing 利益／興味 and 料金s.?

'This is in contrast to a Per 年 (PA) 率, which considers 利益／興味 率 only - rather than 全体にわたる cost.

'APR 計算／見積りs are 一般に based on a credit 限界 of £1,200, spent on the first day and then paid 支援する in equal, 正規の／正選手 instalments across the year.?

'This standardisation is to 許す for more useful like-for-like comparisons between 製品s.'

Hyde continues: 'The American 表明する Platinum Card carries a very high 料金 of £650, which inflates the APR of this particular 製品 to over 700 per cent.?

'However, given the 製品 告発（する），告訴（する）／料金s a much more typical 31 per cent PA 率, と一緒に 申し込む／申し出ing a 会員の地位 points rewards incentive and several other 利益s, the APR alone may not 正確に 代表する the true value 申し込む／申し出d to 消費者s by this 製品.'

Flight perks: One of the 利益s of the Amex Platinum card with its £650 年次の 料金 is 存在 able to use?優先 Pass airport lounges

What does the £650 料金 支払う／賃金 for?

So why does the American 表明する Platinum card have such a £650 料金?

Andrew Hagger 述べるd the card as 'a specialist card for high earners with a host of travel and concierge 利益s rather than a mainstream credit card'.

On 最高の，を越す of having a physical card made from stainless steel - if that's something you value - the Platinum Card comes with a large 範囲 of 利益s which the 年次の card 料金 する権利を与えるs 顧客s to.?

That 含むs 世界的な travel 保険 for the card owner and their family, 同様に as the ability to 追加する extra cardmembers.

It also gives £150 to spend in selected restaurants in the UK, £150 in restaurants abroad, up to £100 a year 支援する when spending at Harvey Nichols and hotel 利益s 含むing room 昇格s.

Another 利益 is having 接近 to the airport lounge 接近 programme 優先 Pass. In total, card owners have 接近 to more than 1,400 airport lounges in 140 countries.?

A 広報担当者 from American 表明する said: 'The 利益／興味 率 告発（する），告訴（する）／料金d on 購入（する）s on our Platinum Card is 31 per cent.?

'The card's 全体にわたる APR takes into account its 年次の 料金, and we're 確信して that the card and its 範囲 of 利益s 供給する 広大な／多数の／重要な value for money 親族 to this 料金.'

SAVE MONEY, MAKE MONEY

Best buy 貯金

Best-buy 貯金

最高の，を越す 率s of up to 5.20%*

Open and manage accounts in one place

Cash Isa

Cash Isa

競争の激しい 5.17% 利益／興味*

含むs 0.88% 特別手当 for first year

解放する／自由な 株

解放する／自由な 株

When you 調印する up to Freetrade*

株 価値（がある） £10 - £100, min deposit £50

Saving & 投資するing

Saving & 投資するing

投資する from £10 in 在庫／株s and ETFs*

4.91% 利益／興味 on 貯金

Fibre broadband

Fibre broadband

£50 BT reward card when you 調印する up*

£32.99 per month for 24 months

* (v)提携させる(n)支部，加入者 links: If you take out a 製品 This is Money may earn a （売買）手数料，委託（する）／委員会／権限. These 取引，協定s are chosen by our 編集（者）の team, as we think they are 価値（がある） 最高潮の場面ing. This does not 影響する／感情 our 編集（者）の independence.